CIM Group has sold Turtle Creek Village, a mixed-use development in the Turtle Creek neighborhood of Dallas. The development consists of the Offices at Turtle Creek Village, a 230,000-square-foot, 18-story, Class A office tower, and the three-building Shops at Turtle Creek Village, a 95,000-square-foot grocery-anchored retail center. Media reports indicate the buyer was De La Vega Development, the developer of The Central in Dallas.
CIM Group acquired the property in 2017 and completed a repositioning of both office and retail components. CIM Group constructed spec suites with flexible designs and successfully leased the retail space.
Commercial Edge reports The Offices at Turtle Creek Village, built in 1972, are at 3838 Oak Lawn Ave., and their overall occupancy is reportedly around 94 percent.
For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.
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